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Minecraft Developers Won't Allow NFTs on Gaming Platform

Minecraft will not allow tokens that are not fungible (NFTs) to be used on the popular gaming platform The company has described them as antithetical to Minecraft's "values of inclusion and creativity as well as playing together".



NFTs provide ownership to an exclusive digital item, typically an image or video, with the ownership recorded on a decentralised digital register , also known as a blockchain.



Digital files can usually be copied or deleted for free, but an NFT identifies the owner of the original file for purpose of selling, buying, or trading the ownership - usually in exchange for cryptocurrency.



NFTs were the hot subject in January, as sales reached an all-time high of US$12 billion (AU$17.4bn worldwide). However, as a result of the decline in cryptocurrency, sales recently fell to the lowest level of one billion dollars (AU$1.45bn) in June.



Minecraft is a game that allows users to build entire virtual worlds, is extremely customizable. Over the 10 years that the game has existed it has built an extensive community of users who design skins, mods and maps for the game.



Minecraft represented an attractive potential market for NFTs and has a large user base that is estimated at more than 141 million by the end of August 2021 - already engaged in sharing exclusive digital items developed for the game.



But the Microsoft-owned development studio behind Minecraft, Mojang, has ended speculation NFTs could be allowed in the game. In a blog post posted on Wednesday, the developers said blockchain technology was not permitted as it is incompatible to the values of Minecraft.



The company said that each of these applications of NFTs or other blockchain technologies creates digital owner based on scarcity, exclusion, which isn't in line with Minecraft values of inclusion through creativity.



"NFTs don't include all members of our community and create a situation of the haves and not-so-haves. NFTs encourage profiteering and speculative pricing, which we believe is not compatible with long-term joy and success for our players.



Mojang declared that Minecraft creations had intrinsic value and there were instances where NFTs were sold fraudulently or with artificially high prices.



The studio expressed concerns that third-party NFTs might not be reliable and could lead to players losing their money. It also expressed concern that the implementation of Minecraft built entirely on blockchain technology could disappear without notice - meaning players could lose their investment.



This is referred to in the crypto community as"rug pull" or "rug pull", where the developers behind a crypto project close down the project and make off with the money. Blockverse, an unofficial Minecraft project, is believed to be an illustration of this. PC Gamer reported that the project was canceled in January, after more than US$1m (AU$1.45m) was put into it.



Mojang left the door open to using "more secure" blockchain technology in Minecraft in the future , but said it had no plans to permit it at the moment.
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We've just shared the following announcement on our Discord regarding the current @Minecraft & @nftworldsNFT issue. pic.twitter.com/ARbKABRK4A



We've just shared the following announcement on our Discord regarding the current @Minecraft & @nftworldsNFT issue. pic.twitter.com/ARbKABRK4A



One group that was working on integrating NFTs into Minecraft said the move was a "step backwards in innovation" and if they were banned they would need to pivot to another gaming platform.



Roblox is another game that is popular that lets you purchase items in-game, is not yet announcing a position on NFTs. However, the chief business officer, Craig Donato, told VentureBeat in April that he did not see why the game would not allow NFTs and it was more a matter of when.



Square Enix and Ubisoft, two other gaming companies, are also exploring NFTs. Square Enix announced this week that players can purchase physical trading cards as well as digital versions of Final Fantasy VII for the 25th Anniversary in the year to come.


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